Valves Market: Research and Development Laboratories to Provide Huge Development Potential in Market

The global valves market is immensely fragmented in nature and a presence of numerous players. The names of these players are Emerson Electric Co., Cameron International, Pentair Plc., and GE Oil & Gas, as per Transparency Market Research (TMR). These players have been adopting strategies such as product innovation through research and development and mergers and acquisitions.

The global valves market stood at US$71.21 bn in 2015 and is poised to touch US$92.65 bn by 2020, on the basis of revenue. The market is predicted to rise at a 5.60% CAGR between 2016 and 2020. On the basis of volume, the global valve market is predicted to rise at a 4.60% over the forecast horizon. In terms of type of material utilized for valve manufacturing, stainless steel valves segment led the market, on the basis of revenue. This segment constituted a share of approximately 54% in the market in 2015 and is predicted to maintain its superiority in the coming years.

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The low cost, less corrosive nature, and light weight properties of stainless steel valves will raise their demand in civil and industrial end users. However, this segment is predicted to lose some of its share and will be superseded by segments of carbon valves and brass over the forecast horizon. The segment of plastic valves is predicted to rise at the swiftest growth rate of 6.30% between 2016 and 2020.

Increasing Government initiatives for Upgrading Electrification in Remote Cities to Boost Asia Pacific Valves Market

On the basis of geography, the market is led by Asia Pacific, in terms of volume and revenue. The increasing initiatives taken by governments in expanding and upgrading the electrification reach in remote cities and villages amongst numerous nations in this region will fuel the demand for valves in forthcoming years. In addition, the growing utilization of valves within pipelines for delivering unprocessed and raw gas and oil products for refining facilities across numerous parts of Asia Pacific will also provide impetus to the growth of the market here.

On the other hand, North America trailed Asia Pacific and took the second position in the market on the basis of volume and revenue. The North America valve market is primarily fuelled the booming industrial sector within the U.S. In addition, the flourishing shale gas industry within the U.S provided reliable domestic supply and imparts the ability of selling this gas overseas. This will also drive the market for valves over the forecast horizon.

Increasing Significance of Wastewater Management to Bolster Global Valves Market

The global valves market is primarily fuelled by the rising demand for valves within the semiconductor and electronics industry”, says a TMR analyst. The growing penetration and adoption of the Internet along with the rising demand of power efficient consumer electronics will augment the semiconductor and electronics manufacturing industry. This has raised the application of valves within electronic manufacturing factories. In addition, the rising significance of wastewater management and the growing application of valves within the food and beverage industry will also bode well for the development of the global valves market.

On the other hand, the increasing impact of slump within the oil and gas industry and the slowdown in the manufacturing sector has come up as key factors impeding the development of the global valves market. Nonetheless, the medical sector and the research and development laboratories present huge development potential in the market for valves, states a TMR analyst.

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This release was published on openPR.